Avaya Holdings Corp. is nearing a chapter 11 individual bankruptcy filing to restructure its balance sheet as it seems to turn all over its organization and shift past challenges encompassing the company’s accounting, people today common with the subject claimed.
Avaya disclosed earlier this week it has reviewed various restructuring proposals from competing creditor teams. One strategy, supported by a senior loan company team which includes Apollo Worldwide Administration , would substantially minimize Avaya’s debt load through chapter 11, wipe out shareholders and, pending the completion of an inside investigation into controls over economic reporting, present administrators and executives with releases from likely litigation.
Avaya Holdings Corp. is nearing a chapter 11 individual bankruptcy filing to restructure its balance sheet as it seems to turn all over its organization and shift past challenges encompassing the company’s accounting, people today common with the subject claimed.
Avaya disclosed earlier this week it has reviewed various restructuring proposals from competing creditor teams. One strategy, supported by a senior loan company team which includes Apollo Worldwide Administration , would substantially minimize Avaya’s debt load through chapter 11, wipe out shareholders and, pending the completion of an inside investigation into controls over economic reporting, present administrators and executives with releases from likely litigation.
